Fourth Quarter Activities Report

GREAT CENTRAL MINES LIMITED 1998-07-30 ASX-SIGNAL-G
HOMEX - Melbourne
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OPERATIONS AND DEVELOPMENT
Gold production during the quarter totalled 167,613 ounces at a
cash operating costs of A$313. Cash costs for the year were A$301
per ounce compared with a cash operating cost of A$277 per ounce in
the prior year.
Forecast production for the Company for 1998 - 99 is at least
750,000 ounces at a cash cost of approximately $300 per ounce.
The production statistics are as follows:
June 1998 Financial year
QTR
BRONZEWING
Underground Mine Production t 345,714 1,471,458
g/t 4.6 5.8
Ore Milled t 449,212 1,761,836
g/t 3.9 5.0
Recovery % 96.9 97.1
Gold Production ozs 54,062 272,524
Cash Operating Cost A$/oz 285 256
JUNDEE - NIMARY
Open Pit Mine Production t 686,158 3,606,237
g/t 3.22 2.71
Ore Milled t 716,165 2,872,315
g/t 3.73 3.32
Recovery % 95.3 95.4
Gold Production ozs 81,778 293,016
Cash Operating Cost A$/oz 323 327
WILUNA
Underground Mine Production t 130,240 366,753
g/t 8.0 8.2
Ore Milled t 161,939 401,410
g/t 7.73 8.25
Recovery % 80 83
Gold Production ozs 31,773 83,782
Cash Operating Cost A$/oz 339 353
TOTALS
Gold Production Gold ozs 167,613 649,322
Cash Operating Cost A$/oz 31.3 301
BRONZEWING
Gold production at Bronzewing was affected by the closure of stope
production during May 1998 within the Central Zone by the Department
of Minerals & Energy after a fatality. Subsequently stope production
commenced at Discovery Deeps and normal stoping production recommenced
within the Central Zone.
Bronzewing underground production to date has totalled 2.3 million
tonnes at a grade of 6.74 g/t gold and for the year 1.47 million
tonnes at 5.8 g/t gold, compared with the current estimated reserve
grade of 4.4 g/t gold. Underground production at Bronzewing for
1998/99 is scheduled at 1.7 million tonnes.
The recent upgrade at Bronzewing of the cyclones and installation of a
third Nelson concentrator has seen metallurgical recoveries for
June-July 1998 average 98.2%. The crushing and grinding circuits are
now fully commissioned and operating at approximately 2 million tonnes
per annum.
JUNDEE-NIMARY
Open pit production at Jundee-Nimary was adversely affected by rain
during June 1998. Underground stoping production for the year
totalled 70,000 tonnes with 35,000 tonnes at 5.2 g/t gold.
Consolidation and integration of the Jundee-Nimary operation is now
complete, resulting in a reduction in staffing levels and costs.
The operation has a combined milling capacity of 3 million tonnes per
annum with the Nimary mill operating at 1 million tonnes per annum of
hard ore. It is planned to add a scats crusher and fine ore
stockpile facility to the Nimary milling facility. The Jundee mill
will continue to process open pit oxide, transition and some fresh ore
at 2 million tonnes per annum.
Further re-optimisation in conjunction with additional pit perimeter
drilling will be carried out over the next 6 months to determine the
potential of large bulk scale deep open pit mining at Jundee-Nimary.
Gold production at Jundee has totalled 534,237 ounces since
commencement of production from December 1995 with the milling of 6.1
million tonnes at 2.8 g/t gold at a metallurgical recovery of 95.6%.
This production is comparable to the initial ore reserve estimate on
which development of the Jundee gold operation was based.
WILUNA
Gold production at Wiluna was similar to the March 1998 quarter, with
cash operating costs at $339 per ounce a reduction of $27 per ounce on
the previous quarter.
Cemented backfill into Bulletin has commenced and will be completed in
the September 1998 quarter. This cemented backfill will allow higher
mining recoveries and improve ground stability.
more to follow
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